Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 28 December 2022 2:00 am

  Gold abandons three week high to $1,814 price zone

  

  Following Wall Street’s optimistic opening amid better market sentiment, as US Treasury yields kept advancing in thin trading, gold managed to jump to a fresh three-week high but rapidly returned around its $1,810 comfort zone, specifically, at the time of writing, the precious metal is in bracketing trading range at …

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• 28 December 2022 1:28 am

  San Francisco Fed discards US recession concerns

  

  San Francisco Fed’s Thomas M. Mertens, from the Economic Research Department, published a report, on Tuesday, on the central bank’s official website entitled “Recession Prediction on the Clock”. The report could be seen as a recession predictor based on macroeconomic data, particularly the jobless unemployment rate.This economic update was able …

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• 28 December 2022 12:35 am

  Could stocks’ volatility continue into 2023?

  

  Among the key questions lingering over across financial markets is whether volatility could continue into 2023 as the calendar year turns a corner.Markets were closed Monday to observe the Christmas holiday. In this shortened trading week, investors are expecting either relative quiet or further volatile sessions ahead due to low …

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• 27 December 2022 11:40 pm

  S&P 500 retreats on surging T-yields amid Santa Claus rally

  

  The S&P 500 fell on Tuesday, at the beginning of the holiday-shortened week, as yields climbed while investors are busy assessing the economic outlook for the new year.The Dow Jones Industrial Average rose 47 points, or 0.13%. The S&P 500 retreated by 0.4%, while the Nasdaq Composite shed 1.3%. Southwest …

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• 27 December 2022 10:41 pm

  WTI crude price benefits from Putin’s ban on oil supply

  

  Crude oil prices are up on Tuesday, helped by the ruling optimism that pushes most stock markets into the gain territory.China has also eased covid-related restrictions, as the local government puts the focus on economic growth, and this consequently boosted the overall market sentiment. Some news agencies report that the …

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• 27 December 2022 9:44 pm

  USD/CAD retreats to the lowest level in three weeks

  

  The Canadian dollar is outperforming during the US session on rebounding WTI crude price, and so Canada’s currency approaches daily highs.As Wall Street trims losses, US yields print fresh highs, the USD/CAD pair is hovering around 1.3510 after hitting at 1.3484, the lowest level in three weeks, amid a significant …

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• 27 December 2022 8:29 pm

  US: International trade deficit declines to $83.3 billion in November

  

  International trade deficit of the US declined by $15.5 billion in October while the US Dollar Index is hovering around 104.22 after the data, showing no immediate reaction to this report. The data published by the US Census Bureau revealed on Tuesday that the US international rate deficit declined by …

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• 27 December 2022 7:37 pm

  US home price index falls less than expected in October

  

  According to the S&P CoreLogic Case-Shiller Home Price Index released on Tuesday, US home prices continued its downtrend in October for the fourth straight months. The US Dollar Index showed no immediate reaction to these figures and was last seen losing 0.05% on the day at 104.26. Seasonally adjusted HPI …

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• 27 December 2022 4:41 pm

  Oil records the highest level in 3 weeks due to the easing of Covid restrictions in China

  

  Oil hit a three-week high on Tuesday after the latest easing of COVID-19 restrictions in China spurred hopes of a recovery in fuel demand and additional support from a cut in energy production in the United States due to winter storms. The National Health Commission said on Monday that China …

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• 27 December 2022 1:57 pm

  European stocks rise amid optimism about the prospects for the Chinese economy

  

  European stocks rose on Tuesday, tracking a global rally in stocks after China eased COVID-19 restrictions, raising hopes for a recovery in the world’s second-largest economy. The pan-European STOXX 600 index rose 0.6 percent after the long Christmas weekend. It had lost about 12 percent since the beginning of the …

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• 27 December 2022 12:58 pm

  Gold rises as the dollar’s decline enhances the attractiveness of the yellow metal

  

  Gold prices rose on Tuesday, as a weaker dollar made bullion in which it is priced less expensive for overseas buyers despite thin trading after the long Christmas weekend. Gold rose 0.4 percent to $1,804.99 an ounce at 0546 GMT. US gold futures rose 0.4 percent to $1,811.90. The dollar …

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• 27 December 2022 12:19 pm

  Nikkei index hits the highest level in a week, with the rise of retail stocks

  

  Japan’s Nikkei share average touched a one-week high on Tuesday amid big gains in retail stocks after Takashimaya raised its earnings forecast and amid hopes for the return of high-spending Chinese tourists. The financial sector stocks also continued their strong performance after the sudden decision of the Bank of Japan …

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• 26 December 2022 11:44 pm

  Why is ECB’s latest move looked upon as kamikaze rate hike?

  

  Some observers have described the ECB’s latest policy decision as “kamikaze” and said it would lead the Eurozone to a prolonged recession.Europe’s central bank decided to raise interest rates in the Eurozone, and this is likely to lead to a collapse of the Euro and to a severe economic crisis …

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